SVB Wealth LLC Boosts Stock Position in Discover Financial Services (NYSE:DFS)

SVB Wealth LLC grew its holdings in shares of Discover Financial Services (NYSE:DFS) by 17.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,680 shares of the financial services provider’s stock after purchasing an additional 1,568 shares during the quarter. SVB Wealth LLC’s holdings in Discover Financial Services were worth $1,200,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DFS. Bruce G. Allen Investments LLC bought a new stake in Discover Financial Services in the fourth quarter worth about $28,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Discover Financial Services in the third quarter valued at approximately $30,000. Resurgent Financial Advisors LLC bought a new position in Discover Financial Services during the fourth quarter valued at $31,000. Pinnacle Bancorp Inc. increased its position in Discover Financial Services by 282.0% in the third quarter. Pinnacle Bancorp Inc. now owns 382 shares of the financial services provider’s stock worth $33,000 after buying an additional 282 shares during the last quarter. Finally, Compass Wealth Management LLC bought a new stake in shares of Discover Financial Services in the fourth quarter valued at $34,000. 86.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Discover Financial Services

In other news, CFO John Greene sold 35,191 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the completion of the sale, the chief financial officer now owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.69% of the company’s stock.

Discover Financial Services Stock Performance

Discover Financial Services stock opened at $124.27 on Friday. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $131.65. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $31.14 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 0.85 and a beta of 1.45. The firm’s fifty day moving average price is $121.69 and its 200-day moving average price is $105.66.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($1.88). The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.07 billion. Discover Financial Services had a return on equity of 22.24% and a net margin of 14.30%. During the same period last year, the firm earned $3.58 EPS. On average, equities research analysts expect that Discover Financial Services will post 11.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on DFS. The Goldman Sachs Group lowered their price objective on Discover Financial Services from $139.00 to $121.00 and set a “buy” rating on the stock in a research note on Friday, January 19th. Barclays upped their price target on shares of Discover Financial Services from $112.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com initiated coverage on shares of Discover Financial Services in a research note on Thursday. They issued a “hold” rating for the company. Seaport Res Ptn downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. Finally, Citigroup lifted their price target on Discover Financial Services from $127.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $125.22.

Discover Financial Services Profile

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.